MURRAY, Ky. (Aug. 6, 2012) — Two Murray State University professors in the Bauernfeind College of Business, Dr. L. Murphy Smith and Dr. Katherine Taken Smith, along with Shannon Knight of Texas A&M, collaborated on a new financial accounting textbook. The book, “Financial Accounting and Reporting,” is published by CCH.
The book incorporates a “cross-functional approach” that demonstrates the value of accounting information to the various business functional areas (e.g. marketing, finance and production). The authors believe this approach motivates learning by making the subject matter relevant to all business majors.
“Students will learn how accounting information contributes to the success of a firm by providing essential information for decision-making by accountants and non-accountants,” Murphy explained.
Each chapter opens with a “Focus on Business” box that applies the chapter’s topics to a real company. The box piques the student’s interest and previews what will be learned from the chapter. For example, the first chapter’s “Focus on Business” brings up the debate about taste preference between Pepsi and Coca-Cola, which becomes a segue to explain how an investor uses financial reports to choose in which company to invest.
Murphy is the David and Ashley Dill Distinguished Professor of Accounting. His academic record includes numerous professional journal articles, conference presentations, research grants, books, and awards for teaching and research. He ranks in the top one percent of authors on Social Sciences Research Network (SSRN.com) by downloaded articles. During his career, he has held a number of leadership positions in academic and professional organizations, such as the American Accounting Association Professionalism and Ethics Committee and the Institute of Internal Auditors Academic Relations Committee.
Katherine is an assistant professor of marketing. Her research articles have appeared in academic journals such as Business Horizons and International Journal of Electronic Marketing and Retailing. She serves on five journal editorial boards. She has co-authored several books. In addition, she has made presentations at professional meetings in the U.S. and abroad. She received the Outstanding Educator Award from the Academy of Educational Leadership.